Sydney, 12 February 2020 – Australia Post is intending to offer its SecurePay eCommerce merchants the market leading ‘buy now, pay later’ solution by mid this year. The solution is provided by Klarna, which is partnering with the Commonwealth Bank of Australia (CBA) to deliver the seamless service in Australia.
Earlier this year, Klarna launched in Australia and introduced the Klarna app, which allows consumers to use its Pay in 4 service at any online retailer and bringing a differentiated offering, centered around consumer and merchant needs. Klarna today serves over 85 million consumers, processes more than one million transactions per day, and powers over 205,000 merchants globally. Klarna globally is proven to increase consumer purchase power and boost sales for merchants.
Australia Post is among the first organisations to enter discussions with Klarna in Australia, with the intention of making the Pay in 4 solution available to its SecurePay eCommerce merchants by mid-2020, while also exploring other potential uses of Klarna’s payment solutions.
“Klarna is excited to be working with Australia Post as part of our launch in the market. As a leading global shopping and payment provider powering over 205,000 merchant partners, we know what it takes to boost consumer loyalty and help retailers compete effectively. With shoppers today demanding a frictionless buying experience from browsing to checkout to post-purchase, we look forward to bringing new innovative services to Australian consumers and adding real value to all merchant partners to further help them grow,” says Fran Ereira, General Manager of Australia & New Zealand, Klarna.
Australia Post aims to allow retailers to integrate Klarna’s payment option in their checkout process. Retailers using Australia Post’s SecurePay payment gateway to facilitate online payments will be able to use Klarna to provide an intuitive ‘buy now, pay later’ service that offers transparency and flexibility for their customers.
“The adoption of ‘buy now, pay later’ continues to accelerate in Australia, with many users being frequent online shoppers. Our latest research suggests as many as 86 percent of Australian customers using ‘buy now, pay later’ payment options purchase something online at least once per month. We know that offering payment choice is important to consumers, so we’re looking at a number of ways we can offer ‘buy now, pay later’ options to our merchants and Klarna’s solution is a great first step in this direction,” says Deanne Keetelaar, Australia Post General Manager Payments & Financial Services.
“Today’s announcement further builds on our longstanding partnership with Commonwealth Bank by working with Klarna to make these new online payment services available to our eCommerce customers,” Ms Keetelaar said. “We are aiming to make it available to our merchants in mid-2020.”
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We make shopping smoooth. With Klarna consumers can buy now and pay later, so they can get what they love today. Klarna’s offering to consumers and retailers include payments, social shopping, and personal finances. Over 205,000 merchants, including H&M, Adidas, IKEA, Expedia Group, Samsung, ASOS, Peloton, Abercrombie & Fitch, Nike and AliExpress have enabled Klarna’s innovative shopping experience online and in-store. Klarna is the most highly valued fintech in Europe with a valuation of $US5.5bn and one of the largest private fintechs globally. Klarna was founded in 2005, has over 2,700 employees and is active in 17 countries. For more information, visit klarna.com.